January 31, 2020 / 4:27 AM / 24 days ago

India's economic survey likely to forecast 2020/21 growth at 6%-6.5%: source

FILE PHOTO - Workers erect scaffolding at a construction site of a metro rail station in Kolkata, India, July 5, 2019. REUTERS/Rupak De Chowdhuri

NEW DELHI (Reuters) - India’s economic survey is seen projecting growth of 6% to 6.5% in the next year starting April 1, boosted by a series of fiscal measures to revive demand that the government is likely to announce in the budget, a source said on Friday.

India faces its worst economic slowdown in a decade. Growth slipped to 4.5% in the July-September quarter, imperiling job prospects for millions of young people entering the workforce each year.

The government has estimated gross domestic product expansion at 5% for the financial year ending on March 31, which would be the slowest pace since the global financial crisis of 2008/09.

An economic survey by chief economic adviser Krishnamurthy Subramanian will be officially announced later in the day and the government will present its budget on Saturday.

Reporting by Aftab Ahmed; Editing by Clarence Fernandez

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